GMD RESOURCE CORP.
1407 - 675 West Hastings Street
Vancouver, British Columbia V6B 1N2
Tel: (604) 488-1111
Fax: (604) 488- 1145
February 17, 1998 VSE Symbol - GMD
U.S. 12g3 Exemption #82-4071
News Release No. 187
Report from Annual General Meeting
GMD Resource Corp. wishes to announce the results of its Annual General Meeting held on Monday, February 16, 1998 in Vancouver, B.C. The Board of Directors of the Company is comprised of three individuals. The following directors were re-elected to the Board of Directors of the Company:
Dr. David R. Webb, President & Director
Gilbert Dalton, Director
Gerry Hess, Director
The following individuals were confirmed as members of the Advisory Committee:
Michael Ballantyne
Gordon Wray
Three (3) resolutions included on the proxy for vote at the AGM were withdrawn: Resolution No. 2, Paul Brownlee, Don Farrell, Visco Jutronich and Garvin McMinn removed themselves by withdrawing their consent to stand as directors of the Company; Resolution No. 3, directors for the Company will remain fixed at six; Resolution No. 6, all outstanding stock options granted to insiders of the Company since the last Annual General Meeting on January 24, 1997, have been canceled.
The Company's financial status was discussed and several of the major shareholders of the Company are in discussions with a view to provide additional financing to the Company to fulfill existing obligations and thereafter to further develop the Company's assets. These shareholders have also commenced a program to expand the board of directors and appoint a new president.
On behalf of the Board of Directors:
Dr. David Webb
President
For More Information Please Call:
Ian Klassen or Jonathan Burke
(604) 488-1111
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
